Further exploration and development of the Tepal Project is recommended. The recommended next phase of work is: a Lidar topographic survey, detailed mapping and surface sampling, systematic channel sampling, relogging of a number of holes, relocating the collars for some of the old INCO drill holes, as well as reprocessing the old geophysical programs. In addition, further resource infill and expansion drilling is recommended especially into the deep South Zone target area. It is also recommended the company conduct further metallurgical testwork at the Tepal Project. Data gained from this recommended work will help the Company with its plan to produce a Preliminary Economic Assessment during the course of 2025.

In addition, the Company has completed a strategic desktop analysis of all historical drilling and test work done at Tepal with plans on drilling targets in future work programs. Areas of focus include the recently defined Mid Zone, a zone of advanced alteration located adjacent to the North and South conceptual pits; The Off-Tizate and North Tizate targets represent high-grade “feeder” targets that have demonstrated high grade Au-Ag results in drilling and are underlain by a strong IP Chargeability response.

Figure 1: Map of Tepal deposits with various exploration target areas outlined in red